The deal marks a milestone in the adoption and deployment of mobile payment systems in the U.S.

The two companies said they will offer the new mobile payment service, Obopay-Amp'd to Amp'd Mobile subscribers in the coming months. Amp'd Mobile will promote the service to all Amp'd subscribers, and in addition, the two companies agreed to an aggressive joint promotion on university campuses across the country this fall.

"Obopay will give our subscribers a mobile payment service that combines an intuitive user experience with real time ability to access and spend money," said Mike McSherry, SVP of Emerging Technologies at Amp'd Mobile. "Our subscribers nationwide will now have the opportunity to revolutionize the way they handle their finances, managing their entire account on their phone and exchanging money with friends instantly through their mobile device. It's the perfect service for our customer's mobile centric lifestyle."

Through an application on their handset, Amp'd Mobile subscribers will be able to easily receive, send and spend money anywhere, anytime.

"It's gratifying that our first agreement to deploy our service with a U.S. carrier is with an innovator and pioneer in the mobile space," said Carol Realini, CEO and Founder of Obopay. "The mobile phone will do for money, what the iPod has done for music; making it instantly accessible and personalized, and Obopay is proud to be partnering with Amp'd to make this a reality."

Already well established in Asia and parts of Europe, mobile commerce is only now beginning to make its way to the U.S. Obopay's downloaded client simplifies the mobile transaction process and facilitates immediate transfer of funds to consumers.

Obopay also recently announced new technology that would allow e-commerce sites to accept payments directly from Obopay accounts. Rather than complicated credit card numbers and expiration dates, Obopay account holders would simply enter their Amp'd Mobile phone number and a passcode to complete a transaction. And these Obopay transactions cost retailers a fraction of the fees they currently pay to other financial vendors.

Amp'd Mobile is one of the fasting growing mobile entertainment and services companies, providing a hybrid of traditional cellular phone services with a rapidly expanding repertoire of mobile content. Amp'd Mobile offers entertainment in all genres including original and acquired videogames, TV, movies, music, sports, comedy, animation and more. Targeting the 18-34 year old demographic, Obopay and Amp'd Mobile will complement each other's efforts by synchronizing their initiatives to address the early-adopter, technology savvy market.